Press Release - MAY 10, 2019

AM BestTV: Spanish Nonlife Insurance Market Sustains Stable Outlook, Says AM Best Senior Financial Analyst

 Lee McDonald
Group Vice President, Publication and News Services
+1 908 439 2200, ext. 5561


OLDWICK - MAY 10, 2019
In this AMBestTV episode, Jessica Botelho-Young, senior financial analyst, AM Best, said Spain’s economic growth and insurers’ ability to maintain focus during political uncertainty and respond to consumer and regulatory developments help support a continued stable market segment outlook for the country’s nonlife market. Click on to view the entire program.

Botelho-Young spotlighted three reasons why AM Best is holding over its stable outlook for 2019.

“The first one, and perhaps the most important one, is the continued economic growth that has occurred in Spain, which is very much aligned with the insurance sector and growth in gross rate and premium,” said Botelho-Young. “The second point is the market’s resilience to the elevated political instability in Spain. The third is the market’s ability to adapt to changing customer needs, as well as the changing regulations.”

As with other sectors, Botelho-Young believes that technology is going to play a major role in the long-term evolution of the Spain’s nonlife sector.

She said, “Technology and being able to adapt to the ever-changing customer needs is going to be very important. Those market participants that are able to embrace technology and innovation, as well as create a competitive advantage by being able to effectively use those tools, are the ones that will be able to capitalize and see some opportunities. Those players could really have a competitive advantage.”

Recent AMBestTV episodes:

  • Commercial Automobile Writers Hampered by Medical Costs, Loss Trends, Says AM Best Associate Director: David Blades, associate director, AM Best, said large gaps in performance are emerging among U.S. commercial automobile writers, limiting some insurers’ ability to respond to market pressures: .

  • Broader Economy, Repair Costs Influence Personal Automobile Sector, Say AM Best Analysts: Raymond Thomson, director, and Samuel Hanig, senior industry research analyst, AM Best, said results for personal automobile insurers will in part depend on gas prices, employment levels and medical costs: .

  • A Key to Underwriting Cyber Risk Is Getting the Right Data, Says Panel: At RIMS, a panel examines the state of cyber risk modeling, including how insurers are learning to deal with so-called silent cyber and other developments: .

  • Investors in Emerging Markets Are Embracing Political Risk Coverage, Say Panel: At RIMS, a panel of political risk insurance experts said private equity firms and other investors are increasing their use of political risk insurance to protect their investments across a range of regions: .

AM BestTV covers exclusive AM Best and insurance industry information and reports, targeted topics and key developments in the insurance, reinsurance and related sectors daily. Sign up for alerts of episodes at . View AM BestTV episodes at .

AM Best is a global rating agency and information provider with a unique focus on the insurance industry.